Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Investment income:        
Total interest from portfolio companies $ 1,535,677 $ 1,100,005 $ 4,306,120 $ 3,016,976
Total interest from other investments 456 48 692 49
Total dividend and other investment income 154,416 421,659 821,756 911,169
Total fee income 50,565 32,553 279,476 104,001
Total investment income 1,741,114 1,554,265 5,408,044 4,032,195
Operating Expenses [Abstract]        
Base management fee (see Note 8) 268,609 225,730 769,869 696,772
Capital gains incentive fees (see Note 8) (41,300) 22,000 740,700 (880,760)
Interest expense 290,522 26,042 707,834 26,042
Professional fees 120,828 126,089 392,110 569,310
Stockholders and office operating 57,097 41,739 206,481 163,327
Directors' fees 66,550 47,800 197,791 137,783
Administrative fees 37,250   111,750  
Insurance 10,380 9,525 33,720 31,788
Corporate development     4,267 3,753
Other operating   34   124
Total expenses 809,936 498,959 3,164,522 748,139
Net investment income before income taxes: 931,178 1,055,306 2,243,522 3,284,056
Income taxes, including excise tax expense 132,595 45,140 237,393 83,750
Net investment income 798,583 1,010,166 2,006,129 3,200,306
Net Realized (Loss) Gain On Sales And Dispositions Of Investments [Abstract]        
Net realized (loss) gain on sales and dispositions of investments, before income taxes (2,802,731) 1,919 1,068,904 690,591
Income tax expense     338,158  
Net realized (loss) gain on sales and dispositions of investments (2,802,731) 1,919 730,746 690,591
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes 2,599,652 92,817 2,634,355 (5,092,921)
Deferred income tax benefit     (66,441)  
Net change in unrealized appreciation/depreciation on investments 2,599,652 92,817 2,700,796 (5,092,921)
Net realized and unrealized (loss) gain on investments (203,079) 94,736 3,431,542 (4,402,330)
Net increase (decrease) in net assets from operations $ 595,504 $ 1,104,902 $ 5,437,671 $ (1,202,024)
Weighted average shares outstanding, Basic 2,581,021 2,581,021 2,581,021 2,581,021
Weighted average shares outstanding, Diluted 2,581,021 2,581,021 2,581,021 2,581,021
Increase (decrease) in net assets from operations per share, Basic $ 0.23 $ 0.43 $ 2.11 $ (0.47)
Increase (decrease) in net assets from operations per share, Diluted $ 0.23 $ 0.43 $ 2.11 $ (0.47)
Control investments        
Investment income:        
Total interest from portfolio companies $ 175,962 $ 124,408 $ 506,800 $ 124,408
Total fee income 4,515 3,900 12,726 3,900
Affiliate investments        
Investment income:        
Total interest from portfolio companies 1,002,553 581,911 2,731,575 1,767,024
Total dividend and other investment income 13,126 305,959 419,951 552,469
Total fee income 40,072 19,340 246,816 72,160
Net Realized (Loss) Gain On Sales And Dispositions Of Investments [Abstract]        
Net realized (loss) gain on sales and dispositions of investments, before income taxes     2,596,094 167,159
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes     (886,698) 47,841
Non-Control/Non-Affiliate investments        
Investment income:        
Total interest from portfolio companies 357,162 393,686 1,067,745 1,125,544
Total interest from other investments 456 48 692 49
Total dividend and other investment income 141,290 115,700 401,805 358,700
Total fee income 5,978 9,313 19,934 27,941
Net Realized (Loss) Gain On Sales And Dispositions Of Investments [Abstract]        
Net realized (loss) gain on sales and dispositions of investments, before income taxes (2,802,731) 1,919 (1,527,190) 523,432
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes $ 2,599,652 $ 92,817 $ 3,521,053 $ (5,140,762)